Open trading account 
Sterling is consolidating yesterday's losses against the US dollar.
The exchange rate recovered slightly and at 0725 UTC trades near the 1.2960 area, where the upper boundary of the hourly Bollinger bands is located at. The 55-hour SMA is located at 1.2979.
The 100-hour stands at 1.3028, while the weekly PP is located further above at 1.3053.
Strong support is offered at 1.2931, where both the weekly S1 and the monthly S1 are located at. The lower boundary of the hourly Bollinger bands is located at 1.2928.
The motion south is likely to be predominant during the all week and the next target may lie on the weekly S2 at 1.2853.
The exchange rate recovered slightly and at 0725 UTC trades near the 1.2960 area, where the upper boundary of the hourly Bollinger bands is located at. The 55-hour SMA is located at 1.2979.
The 100-hour stands at 1.3028, while the weekly PP is located further above at 1.3053.
Strong support is offered at 1.2931, where both the weekly S1 and the monthly S1 are located at. The lower boundary of the hourly Bollinger bands is located at 1.2928.
The motion south is likely to be predominant during the all week and the next target may lie on the weekly S2 at 1.2853.
